Dimensional Fund Advisors LP Sells 171,087 Shares of Cenovus Energy Inc $CVE

Dimensional Fund Advisors LP lessened its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,163,377 shares of the oil and gas company’s stock after selling 171,087 shares during the quarter. Dimensional Fund Advisors LP owned 0.97% of Cenovus Energy worth $291,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp bought a new stake in shares of Cenovus Energy in the second quarter worth about $27,000. Allworth Financial LP lifted its holdings in shares of Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,168 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 1,384 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 1,800 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in Cenovus Energy during the 2nd quarter worth approximately $78,000. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVE has been the topic of several research analyst reports. Veritas downgraded shares of Cenovus Energy from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Royal Bank Of Canada upped their price target on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cenovus Energy in a research note on Tuesday, January 27th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.33.

Cenovus Energy Stock Down 2.4%

CVE stock opened at $22.75 on Friday. The company has a market cap of $42.77 billion, a price-to-earnings ratio of 14.87 and a beta of 0.43. Cenovus Energy Inc has a twelve month low of $10.23 and a twelve month high of $23.89. The business has a 50 day moving average price of $19.79 and a two-hundred day moving average price of $18.08. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same quarter in the prior year, the business posted $0.07 EPS. Analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, March 13th. Cenovus Energy’s dividend payout ratio is 37.25%.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.